SyndicateRoom is going through a period of change, it appears.
In an email distributed by co-founder Tom Britton, he stated that SyndicateRoom is switching to “fund-first approach to investing.”
As explained in the email:
“We’re in the process of redesigning our crowdfunding offering. We need to ensure that it’s attractive to the very best companies, and that SR can continue to give members the highest standards of due diligence.
While we implement our new model, it’s unlikely we will be listing individual startup investments. Companies that receive funding from Access EIS won’t be obliged to list on the platform.”
Britton indicated that the recent dip in listed offerings was due to the strategic shift.
Access EIS refers to SyndicateRooms “new flagship product” which is expected to be launched in the coming weeks.
To quote the missive:
“Access EIS tracks performance data of over 1,000 active startup investors. It then selects and co-invests with the UK’s best-performing “super angels” with the aim of replicating their collective success.”
SyndicateRoom is one of the “big three” crowdfunding platforms in the UK. The platform has always taken a lead investor approach in the past where every listing involves a professional investor who has vetted the offering thus setting a high bar of early-stage firms raising capital on the platform. Smaller investors can participate on the same terms while gaining access to high-quality investment opportunities.
“We need to ensure that it’s attractive to the very best companies, and that SR can continue to give members the highest standards of due diligence.”